摘要: An accounting technique that applies the current year's net operating losses to future years' profits in order to reduce tax liability. Generally accepted accounting principles (GAAP) specify that l[阅读全文:]
摘要: An Internal Revenue Service rule implemented in 1991 to prevent a consolidated group - a business conglomerate filing a single tax return on behalf of its subsidiaries - from taking a tax deduction fo[阅读全文:]
摘要:
A method of computing the cost basis of an asset that is sold in a taxable transaction. There are five major lot relief methods that can be used for this purpose. They include FIFO (First-In-First-[阅读全文:]
摘要: This act provides an incentive for home developers to build, buy and refurbish housing for low-income taxpayers. The Low-Income Housing Tax Credit also provides a non-refundable credit for those who i[阅读全文:]
摘要: An annual limit on the amount of depreciation that can be taken on a luxury car used for business purposes. This amount is indexed each year for inflation. The purpose of luxury automobile limitations[阅读全文:]
摘要: An extended form of an IOU from one party to another that enables a payee to receive payments (possibly with interest) over a set period of time, ending with the date at which the entire loan is to be[阅读全文:]
摘要: An additional tax on top of federal and state taxes, usually collected in the form of property taxes.
Also called "municipal tax".
This covers everything from garbage pickup to[阅读全文:]
摘要: An insurance product that features a predetermined periodic payout amount until the death of the annuitant. These products are most frequently used to help retirees budget their money after retirement[阅读全文:]
摘要: A provision applicable to the Canadian Registered Retirement Savings Plan (RRSP). The plan allows RRSP contributors a non-taxable temporary withdrawal of up to $20,000 from their accounts in order to [阅读全文:]
摘要: A federal initiative whereby a person is eligible for a non-refundable credit for a specific amount spent on higher education tuition and fees during the year.
These fees can be for the [阅读全文:]